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Luxury Toronto Homes

Once upon a time, the wealthy elites of the world showed off their financial status by purchasing enormous estates in the countryside. These personal fiefdoms contained acres upon acres of manicured lawns and gardens and at the center of it all, an enormous mansion with more rooms than would have been needed to comfortably house the inhabitants of the nearest village. In those days though, wealth came from the land, as these estates were generally at the center of vast plots owned by the landlord and rented out to farmers. Today wealth comes not from agriculture but from business, finance, entertainment, and government. And Toronto is a major hub of all four.

As a city, Toronto is possessed of an interesting dichotomy which is common among large cities the world over. On one hand, the soaring population density and the ever growing influx of struggling immigrants from economically depressed areas has led to a clamor for living space and high rise apartment buildings springing from the landscape to meet it. Meanwhile, on the other hand, Toronto is the center of Old Money in Canada. As one of the earliest and most influential settlements in the country, Toronto's carefully preserved and manicured old suburbs have become the playground to the wealthy and powerful.

Ironically, both seemingly disparate worlds have led to the proliferation of luxury housing in Toronto including Leaside. The wealthy elites, who have inherited positions at the heads of huge corporations or carved out a sphere of influence for themselves politically, have been trading their luxury housing back and forth among one another since it was created in the 1800s. Their success has provided the city with a plethora of well-paying jobs that have allowed many newcomers; both from other cities in Canada and from other countries around the world, to prosper to the point where they too can afford to buy luxury housing.

The luxury housing preferred by the paragons of Old Money tends to be located in the earlier Toronto suburbs, like Rosedale, the Annex, Riverdale or Forest Hill. In these neighbourhoods are the huge old mansions, built in historic architectural styles like Edwardian or Queen Anne, adorned with their status-enhancing arches, columns, and stonework. Though old houses need more repair and often aren't that much larger than some of the McMansions out in Bramalea and the other suburb cities, the quiet, Old Toronto locations and the unique building styles give these homes their luxury status and price tags.

New Money, however, has an entirely different set of values. Since most of the neuveaux riche have made their money in the stock market or at the helms of major corporations, they tend to favour their luxury accommodations to be closer to their downtown financial kingdom, instead of The Beaches. Toronto waterfront condos, in the entertainment and financial districts, come with all the newest and best features: balconies, sunrooms, and state of the art fixtures. Even the buildings are equipped with full services - swimming pools, laundry, concierge, and catering.